The larger fib retracement tool is drawn from the previous high (not all time high), but when the energy sector starts its decline. The smaller fib is recent low with the market crash, and they both seems to be overlapping at the recent peak. If we break out of that point, we should expect a move to a higher fib and we can always use the current fib as a stop loss target.
Volume profile is showing we are on the rise, bullish in all Wave A,B,C different timeframe. This can be a hedge against inflation as oil price tend to stress upward.
This is a chart of 1D, so do not expect the price to jump up too much.
Good luck!
Volume profile is showing we are on the rise, bullish in all Wave A,B,C different timeframe. This can be a hedge against inflation as oil price tend to stress upward.
This is a chart of 1D, so do not expect the price to jump up too much.
Good luck!